loan•ol•o•gy (mortgage blog)

Noun

  1. The study and explanation of mortgage rates, terms, programs and approval requirements
  2. An attempt at a clever name for our blog


Chicagoland Homes We Love – For Sale Now


From mansions to cozy condos, we love homes big and small. Here are four great homes on the market now in Chicagoland:
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Introducing MakeOver Mortgage


You Imagine the Possibilities, We’ll Fund Your VisionLove your home again with MakeOver Mortgage, a new program that allows you to renovate and increase the value of your home at an outstanding rate.
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Does having more than two borrowers help with Jumbo Loan qualification?


Yes. Additional income always helps with mortgage qualification, but typically the borrowers must be living in the property. For a custom quote based on different levels of income, contact a Jumbo Genius here or call 708-531-8388.
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Chicagoland Homes We Love – For Sale Now


From mansions to cozy condos, we love homes big and small. Here are four great homes on the market now in Chicagoland:
Read more »

Sweet Open House on Sunday, November 5


We fell in love with another recent listing, and we just had to share our love. Talk about rooms with a view, check out this stunning condo: 111 W. Maple Street, #2402, Chicago If you’re looking for a spectacular view, take a look at this corner unit condo on the Near North Side.
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Sweet Homes Chicago – For Sale Now


From mansions to cozy condos, we love homes big and small. Here are four great homes on the market now in Chicagoland:
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Five Homes We Love That Are For Sale Now


From mansions to cozy condos, we love homes big and small. Here are five great homes on the market now in Chicagoland:
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5% down jumbo mortgage on a Chicago condo? Yes, we do them all the time.


The Chicago condo market is pricey and these higher prices usually come with higher down payment requirements. Not so long ago, if you wanted to buy a $600,000 condo, you needed a down payment of $120,000, which is 20%. Over the last few years, we have introduced a jumbo loan that only requires 5% down for loan amounts to $650,000.
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What is involved in getting a Jumbo Loan if you’re self-employed?


It depends on your level of self-employment. If you’re a sole proprietor, we ask for personal tax returns from the last two years. If your company is an S Corp, C Corp, or Partnership, we ask for personal and business tax returns from the last two years. United Home Loans is an expert at securing loans for the self-employed. For advice specific to your situation, contact a Jumbo Genius here or call 708-531-8388.
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When should I consider a Jumbo ARM?


Financially well-heeled borrowers often use an adjustable rate mortgage as a way to aggressively pay down principal by using the lower rate associated with the ARM. For example, if a 30-year fixed rate is 4.00% and a 7/1 ARM is 3.25%, you can take out the ARM but pay as a 30-year fixed to quickly reduce the loan’s principal balance. This option really depends on your financial goals. For advice and rates specific to your income situation, contact a Jumbo Genius here or call 708-531-8388.
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5% Down Jumbo Loans in Illinois: Get Your Ideal Home Without A Lot of Cash


Down payment requirements on Jumbo Loans are lower than you think. In fact, you can qualify for a loan up to $650,000 with only 5% down. Here are the details:
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Fed Holds Rates Steady at September Meeting


As expected, the monetary policymakers left the benchmark interest rate unchanged at this month’s meeting. This decision is good news for interest rates on everything from mortgages to credit cards.
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